Lucky Minerals Inc (CVE:LJ, OTCQB:LKMNF) announced today that it has received conditional approval on its proposed Ecuadorean acquisition.
The company said the TSX Venture Exchange granted conditional approval with respect to its acquisition by the company of 100% of Goldmindex SA, a private Ecuadorean company, by way of a share exchange between Lucky and Monterra Resources SA.
Lucky will acquire all of the issued and outstanding shares of Goldmindex from Monterra and one individual in exchange for 16,000,000 common shares of the company.
Lucky will acquire Goldmindex's 100% interest in the Fortuna Property, a 54,985 hectare (550 km2) contiguous property position, which comprises 12 individual mineral concessions located 50km south of Cuenca, the capital of Azuay province in Ecuador.
Final approval on the transaction will be received when the company fulfills the filing requirements.
The Fortuna project is a prospective land package located in the heart of a prolific Ecuadorian mineral belt near a number of significant gold and copper discoveries made during the last 20 years.
Shares of Lucky Minerals were flat at C$0.09 on Tuesday.